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Madison Realty Capital Originates $44M Transitional Loan for Lease-Up of Luxury Apartment Complex in Summerville, SC
Madison Realty Capital, a private equity firm focused on debt and equity investment strategies, has announced it has provided a $44 million loan to McKee Homes, a Raleigh, NC-based home builder and developer, and the Huff Family Offices, for The Palms at Edgewater, a 288-unit multifamily apartment complex in Summerville, SC.
Located at 1005 Sonaran Circle in Summerville, 30 minutes from Charleston, The Palms at Edgewater includes 13 Class A three-story apartment buildings offering one- to three-bedroom units. The community will include 288 private residences with modern finishes, high-end appliances, private balconies, patios and detached garages. Amenities include a clubhouse with leasing office, business center, game room, and fitness center. The lake has fountains surrounded by walking paths, a pool and pavilion, car wash, playground, pickleball courts, dog parks and dog wash, and gas firepits.
Managing Director, Trent Niederberger, and Director, Philip Galligan, of JLL Capital Markets arranged the financing.

